BTG
Market capitalisation £2.38bn
Investors will not need reminding that this has not been the best of years for BTG. The company is trying to build up a stable of world-beating drugs while relying on others that have been around for a while — the best known is CroFab, which treats snakebites.
The main buzz has been around Varithena, a new way of treating varicose veins without surgery, which has been launched in the United States, potentially a huge market. It is fair to say that the company probably overpromised on this and had to haul back market expectations in October.
Doctors like it, but it is proving more difficult than expected to get them to adopt Varithena because, first of all, the relevant American